Zynga Inc. (NASDAQ:ZNGA) had its target price upped by equities research analysts at Canaccord Genuity from $3.00 to $3.50 in a report released on Thursday. The firm presently has a “hold” rating on the stock. Canaccord Genuity’s price objective indicates a potential downside of 4.63% from the company’s previous close.

Several other analysts have also issued reports on the company. Piper Jaffray Companies set a $4.00 target price on Zynga and gave the stock a “buy” rating in a research note on Thursday. Wedbush upped their target price on Zynga from $4.25 to $4.65 and gave the stock an “outperform” rating in a research note on Thursday. BidaskClub lowered Zynga from a “buy” rating to a “hold” rating in a research note on Wednesday. Morgan Stanley reaffirmed an “overweight” rating and issued a $3.70 target price on shares of Zynga in a research note on Saturday, July 22nd. Finally, Zacks Investment Research lowered Zynga from a “buy” rating to a “hold” rating in a research note on Friday, July 7th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $3.92.

Shares of Zynga (NASDAQ:ZNGA) traded up 3.07% on Thursday, reaching $3.69. 28,459,355 shares of the company were exchanged. The stock’s 50-day moving average is $3.65 and its 200 day moving average is $3.11. The firm’s market capitalization is $2.84 billion. Zynga has a 12-month low of $2.40 and a 12-month high of $3.86.

Zynga (NASDAQ:ZNGA) last issued its earnings results on Wednesday, August 2nd. The company reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by $0.01. The firm had revenue of $209.20 million during the quarter, compared to analysts’ expectations of $201.64 million. Zynga had a negative return on equity of 5.25% and a negative net margin of 12.16%. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. On average, analysts forecast that Zynga will post $0.09 EPS for the current year.

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In related news, Director William B. Gordon sold 1,232,373 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $3.50, for a total transaction of $4,313,305.50. Following the completion of the transaction, the director now owns 832,603 shares in the company, valued at $2,914,110.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ellen F. Siminoff sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $3.64, for a total value of $43,680.00. Following the transaction, the director now owns 141,057 shares of the company’s stock, valued at approximately $513,447.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,806,010 shares of company stock valued at $6,334,428. 12.43% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Zynga by 10.2% in the first quarter. Vanguard Group Inc. now owns 60,636,895 shares of the company’s stock worth $172,814,000 after buying an additional 5,635,406 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Zynga by 10.6% in the first quarter. Dimensional Fund Advisors LP now owns 53,752,591 shares of the company’s stock worth $153,195,000 after buying an additional 5,142,597 shares in the last quarter. BlackRock Inc. increased its position in shares of Zynga by 5,061.5% in the first quarter. BlackRock Inc. now owns 35,936,741 shares of the company’s stock worth $102,420,000 after buying an additional 35,240,491 shares in the last quarter. Morgan Stanley increased its position in shares of Zynga by 30.4% in the first quarter. Morgan Stanley now owns 27,433,552 shares of the company’s stock worth $78,186,000 after buying an additional 6,397,949 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of Zynga by 2.8% in the second quarter. First Trust Advisors LP now owns 11,490,540 shares of the company’s stock worth $41,826,000 after buying an additional 311,588 shares in the last quarter. Institutional investors own 66.14% of the company’s stock.

About Zynga

Zynga Inc is a provider of social game services. The Company develops, markets and operates social games as live services played on mobile platforms, such as iPhone Operating System (iOS) operating system and Android operating system and social networking sites, such as Facebook. The Company has developed a range of social games, including games in its Slots, Words With Friends, Zynga Poker and FarmVille franchises.

Analyst Recommendations for Zynga (NASDAQ:ZNGA)

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